Rockland County real estate sales outshine rest of Hudson Valley
Home sales across the Hudson Valley were relatively flat last year – except in Rockland County.
The area is the only county in the Hudson Valley to experience an increase in profits, with single-family home demands increasing by 5.5% since 2018. Realtors say it’s because homes in Rockland are priced to move.
“Right now in Rockland County, anything priced at $450,000 or below is selling two weeks,” says Joe Rand, of Rand Realty. “The market for the high-end homes has been a little tougher, but the demand at the sub-$750,000 level is red-hot.”
Westchester County sales fell by 1%, and Orange County sales decreased by 4.2% in 2019.
According to Rand Realty, which is the largest real estate agency in the area, high-end homes sales have declined since the property tax cap went into effect.
News 12 is told the cap affects those who earn more than a quarter-million dollars per year and would like to purchase a high-end household.
“Most people who make under $200,000 don't even itemize their taxes. So, it makes no difference to them whether the property taxes are deductible,” says Rand.